Fitch affirms Empresas Copec

Fitch Ratings said it affirmed the foreign- and local-currency issuer default ratings of Empresas Copec SA at BBB+ and its national equity rating at Level 1.

The outlook is stable.

Ratings reflect the company's strong international presence in the pulp and forestry industry, its leading business position in the Chilean fuel distribution market and a strong financial profile, the agency said.

For the 12 months ended Sept. 30, had a total debt-to-EBITDA ratio of 1.5x and a net debt-to-EBITDA ratio of 1.3x.

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